with news of a malicious miner attacking monero, this is a timely throwback:
https://www.reddit.com/r/Bitcoin/comments/281ftd/why_i_just_sold_50_of_my_bitcoins_ghashio/
Discussion
Solo mining in every household.
Heard it was remarkably cheap. Poor Monero
Yiikes
Let's reboot p2pool, as the referred post talks about.
https://github.com/pool2win/p2pool-v2
Bitcoin has come a long way since 2017, bandwidths are much faster, we can totally reboot p2pool.
There's a whole lot of open issues and a GitHub project that puts them in order of priority.
We can do this. Ask not what bitcoin can do for you, etc.
Nobody normal mines that fedcoin.
Monero on the other hand already P2pool which is used on any normal desktop and pays daily: GitHub - SChernykh/p2pool: Decentralized pool for Monero mining
Got to try and improve things.
And yes, seeing monero's p2pool coming to life has been a big motivation to reboot p2pool for bitcoin.
There's still demand for alternatives to centralised pools fleecing small miners with up to 4% fees with FPPS.
If we don't try, we are giving up.
Look, you are competing with industrial ASIC machines in China where electricity is basically free. Normal users will never know what is mining for a cryptocurrency on that fedcoin, and that is intended by design.
There are already real crypto currencies working exactly as intended that anyone can mine with a laptop and where ASIC has zero chance to compete.
If one day you look at some distance, you'll see yourself involved in a cultist behavior and surrounded by a group of people who might as well be trading stocks or forex, but certainly ZERO to do with cryptocurrencies or why they exist in the first place.
They don't pay for stuff with crypto, they don't mine crypto. Heck, most don't even keep it with their own keys because they don't know how. I'm an early BTC adopter (and by early I mean 2009), there is a reason why I keep a distance now and support that coin which makes govs and venture capitalists quite miserable. Maybe someday you can understand why it matters and how much they are fooling you now.
thank you 🧡💜
What’s going on with braidpool?
Is it malicious or are they proving a problem?
The attack failed btw.
Why are you promoting a Peter Todd post? He's a retarded Zionist
Several of the core problems he points out still exist today, I think reactions to this post as "aging poorly" make the future of mining decentralization look pretty bleak as it reveals both a lack of awareness by Bitcoiners and a denial of these risks.
Peters biggest miss here is thinking that these centralization forces would be bad for price. Bitcoin can go much much higher before we realize it's too late to solve some of these things, I expect it to be at least another decade before we look back and wish we were more recognisant of minings problems.
Do you know you can earn daily from mining?